Mizuho Securities USA LLC Sells 1,822 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Mizuho Securities USA LLC trimmed its holdings in Synopsys, Inc. (NASDAQ:SNPS) by 15.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,935 shares of the semiconductor company’s stock after selling 1,822 shares during the period. Mizuho Securities USA LLC’s holdings in Synopsys were worth $5,031,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in SNPS. Price T Rowe Associates Inc. MD lifted its holdings in Synopsys by 39.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,337,602 shares of the semiconductor company’s stock worth $3,050,441,000 after purchasing an additional 1,514,449 shares in the last quarter. Swedbank AB lifted its holdings in shares of Synopsys by 1.4% in the second quarter. Swedbank AB now owns 1,866,133 shares of the semiconductor company’s stock worth $1,110,461,000 after buying an additional 25,999 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Synopsys by 26.5% during the third quarter. Van ECK Associates Corp now owns 1,605,001 shares of the semiconductor company’s stock worth $791,923,000 after acquiring an additional 335,993 shares during the last quarter. Parnassus Investments LLC purchased a new position in Synopsys during the third quarter valued at $633,469,000. Finally, Janus Henderson Group PLC increased its holdings in Synopsys by 6.5% in the 1st quarter. Janus Henderson Group PLC now owns 1,055,290 shares of the semiconductor company’s stock valued at $603,016,000 after acquiring an additional 63,966 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Stock Up 3.0 %

Shares of SNPS opened at $557.73 on Friday. Synopsys, Inc. has a 52-week low of $457.52 and a 52-week high of $629.38. The business has a fifty day moving average of $519.28 and a 200 day moving average of $545.55. The company has a market cap of $85.67 billion, a PE ratio of 57.86, a P/E/G ratio of 3.26 and a beta of 1.08.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share for the quarter, topping analysts’ consensus estimates of $3.28 by $0.15. Synopsys had a net margin of 24.06% and a return on equity of 22.09%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the company posted $2.17 EPS. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, research analysts anticipate that Synopsys, Inc. will post 9.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on SNPS shares. Piper Sandler dropped their price objective on shares of Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. increased their price target on Synopsys from $655.00 to $685.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Mizuho assumed coverage on Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price objective on the stock. Robert W. Baird increased their target price on Synopsys from $661.00 to $663.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $635.00 target price on shares of Synopsys in a report on Friday, August 23rd. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $649.82.

About Synopsys

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.